Verrica Pharmaceuticals Inc (NASDAQ:VRCA) shares shot up 9.8% during mid-day trading on Wednesday . The stock traded as high as $13.34 and last traded at $12.97, 122,500 shares were traded during trading. An increase of 141% from the average session volume of 50,832 shares. The stock had previously closed at $11.81.
Several brokerages recently issued reports on VRCA. Zacks Investment Research upgraded Verrica Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research note on Friday, August 30th. HC Wainwright boosted their price target on Verrica Pharmaceuticals from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 27th.
The stock has a market capitalization of $304.01 million, a P/E ratio of -10.15 and a beta of 4.04. The firm has a 50 day moving average of $10.12 and a 200-day moving average of $10.21.
Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02. On average, analysts predict that Verrica Pharmaceuticals Inc will post -1.2 earnings per share for the current year.
In other Verrica Pharmaceuticals news, major shareholder Matt Davidson sold 33,521 shares of Verrica Pharmaceuticals stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $11.63, for a total transaction of $389,849.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 140,525 shares of company stock worth $1,571,495 over the last ninety days. Company insiders own 40.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRCA. JPMorgan Chase & Co. boosted its holdings in Verrica Pharmaceuticals by 35.5% during the second quarter. JPMorgan Chase & Co. now owns 3,541 shares of the company’s stock valued at $34,000 after purchasing an additional 927 shares in the last quarter. Rhumbline Advisers acquired a new stake in Verrica Pharmaceuticals during the first quarter valued at approximately $111,000. Wells Fargo & Company MN boosted its holdings in Verrica Pharmaceuticals by 659.2% during the second quarter. Wells Fargo & Company MN now owns 22,525 shares of the company’s stock valued at $262,000 after purchasing an additional 19,558 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Verrica Pharmaceuticals by 48.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,608 shares of the company’s stock worth $437,000 after acquiring an additional 12,198 shares in the last quarter. Finally, Asymmetry Capital Management L.P. boosted its holdings in shares of Verrica Pharmaceuticals by 12.0% in the 1st quarter. Asymmetry Capital Management L.P. now owns 70,458 shares of the company’s stock worth $762,000 after acquiring an additional 7,576 shares in the last quarter. 35.04% of the stock is currently owned by institutional investors.
Verrica Pharmaceuticals Company Profile (NASDAQ:VRCA)
Verrica Pharmaceuticals Inc, a clinical stage medical dermatology company, develops and commercializes dermatological treatments in the United States. The company's lead product candidate include VP-102 that is in phase III clinical trial for the treatment of molluscum contagiosum; in phase II clinical trial for the treatment of common warts; and completed phase I clinical trial for the treatment of Genital warts.
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